sink hole insurance
 

Who does everyone have for sinkhole ins. Get lots of comments from neighbors & friends, saying they have the best? We have AAA.

We have AAA also. The price for our homeowners ins just went down, same value same coverage. But the cost of our 3 cars went up. Price is almost the same as last year, including sinkhole with deductible. Len & Mary

Two types that are available. Catastrophic and non-catastrophic. The insurance most have is the catastrophic which covers mostly a total loss. The non-catastrophic will cover you, for example, a sink hole that may be near your house and cause minor damage. This could still result in many $1000's in damages but not be covered under catastrophic coverage. I have both. Suggest you contact The Villages Insurance.

You must meet all 4 criteria for your insurance to kick in for catastrophic ground collapse. The house must be condemned.

Non-catastropic covers you if your house is not condemned.

“Catastrophic ground cover collapse” is defined as “geological activity that results in all of the following: 1). The abrupt
collapse of the ground cover; 2). A depression in the ground cover clearly visible to the naked eye; 3). Structural damage
to the building including the foundation; and 4). The insured structure being condemned and ordered to be vacated by
the government agency authorized by law to issue such an order for that structure.”
This means that if your home is damaged by sinkhole activity, but does not meet all four criteria for catastrophic ground
cover collapse – for instance, you may have foundation cracks, but the home is still livable – your insurance may not pay
for the damage if you do not have sinkhole coverage.
All insurance companies licensed to do business must offer sinkhole coverage, usually as an addendum or rider to an
existing policy, and for an additional premium charge. However, insurance companies may require an inspection before
extending coverage. If sinkhole activity is present on the property or within a certain distance of the property to be
insured, the insurance company may decline coverage.

AAA does not write homeowners (with sinkhole) insurance. They (and others) sell policies written by ASI.

I think that's right; at least when I asked the AAA agent in Tampa that insures our autos to quote on HO, he said only ASI writes those policies so we may as well keep what we already have.

I have sinkhole coverage through Allstate with $1000 Ded

Could you tell me how much per year the sinkhole ins is for the $1000 deductible? Mine is around $250 a year just for the sinkhole coverage and I believe I have a 20% deductible

Total Premium for policy is $900.00 year. Call and get a quote.
259-3825